PM vs TPB
Philip Morris International Inc. and Turning Point Brands, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | PM | TPB |
|---|---|---|
| Revenue | $40.6B | $463.1M |
| Net income | $11.3B | $58.2M |
| Gross margin | 67.1% | 57.1% |
| Net margin | 29.1% | 14.7% |
| Return on equity | · | 20.7% |
| Diluted EPS | $7.26 | $3.11 |
| Dividend / share | $5.64 | $0.30 |
| Payout ratio | 76.0% | 9.5% |
| Free cash flow | $10.7B | $43.8M |
| Equity | $-10.0B | · |
| Net debt / equity | · | 0.19× |
| Current ratio | 0.96× | 5.56× |
| Revenue CAGR 5y | 7.2% | 2.7% |
| Profit CAGR 5y | 7.1% | 8.8% |
PM bills 87.8× the revenue of TPB, and keeps more of each dollar of revenue as profit (29.1% against 14.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | PM | TPB |
|---|---|---|
| FY2025 | $40.6B | $463.1M |
| FY2024 | $37.9B | $360.7M |
| FY2023 | $35.2B | $325.1M |
| FY2022 | $31.8B | $321.2M |
| FY2021 | $31.4B | $445.5M |
| FY2020 | $28.7B | $405.1M |
| FY2019 | $29.8B | $362.0M |
| FY2018 | $29.6B | $332.7M |
| FY2017 | $28.7B | $285.8M |
| FY2016 | $26.7B | $206.2M |
Bottom line
| Fiscal year | PM | TPB |
|---|---|---|
| FY2025 | $11.3B | $58.2M |
| FY2024 | $7.1B | $39.8M |
| FY2023 | $7.8B | $38.5M |
| FY2022 | $9.0B | $11.6M |
| FY2021 | $9.1B | $52.1M |
| FY2020 | $8.1B | $38.2M |
| FY2019 | $7.2B | $16.2M |
| FY2018 | $7.9B | $25.3M |
| FY2017 | $6.0B | $20.2M |
| FY2016 | $7.0B | $26.9M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$40,184,938,000 | PM |
| FY2024 | +$37,517,340,000 | PM |
| FY2023 | +$34,848,936,000 | PM |
| FY2022 | +$31,440,771,000 | PM |
| FY2021 | +$30,959,529,000 | PM |
| FY2020 | +$28,288,889,000 | PM |
| FY2019 | +$29,443,011,000 | PM |
| FY2018 | +$29,292,317,000 | PM |
| FY2017 | +$28,462,223,000 | PM |
| FY2016 | +$26,478,772,000 | PM |
| FY2015 | +$73,710,744,000 | PM |
| FY2014 | +$79,905,671,000 | PM |
PM has reported the higher revenue in every one of these 12 fiscal years. The gap has narrowed since the earliest year compared.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +14.4 pp | PM |
| FY2024 | +8.6 pp | PM |
| FY2023 | +11.9 pp | PM |
| FY2022 | +26.5 pp | PM |
| FY2021 | +19.4 pp | PM |
| FY2020 | +20.5 pp | PM |
| FY2019 | +21.4 pp | PM |
| FY2018 | +20.4 pp | PM |
| FY2017 | +15.2 pp | PM |
| FY2016 | +14.1 pp | PM |
| FY2015 | +21.6 pp | PM |
| FY2014 | +40.4 pp | PM |
PM has kept the higher net margin in every one of these 12 fiscal years.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TPB's net margin has been more volatile than PM's over the 12 comparable fiscal years — 7.4 percentage points of standard deviation against 3.3.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
PM led in net margin in every one of the 12 comparable fiscal years — a structural lead, not a recent swing.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.